Oil boom on the horizon in Kansas? Also, a hint of the lucrative economics of fracking.

Walter Russell Mead points to an article here that says prospectors are spreading out across southern Kansas looking for oil. They are in the Mississippi Lime formation, roughly between Tulsa and Wichita and spreading to the west.

Two really cool comments in Mr. Mead’s post, What is the Matter with Kansas? If You Like Oil, Nothing.

First, here is a hint at the economics involved:

Continue reading “Oil boom on the horizon in Kansas? Also, a hint of the lucrative economics of fracking.”

Graph of oil production in North Dakota compared to Alaska and California

I have a couple of graphs of production in North Dakota here. In today’s Wall Street Journal, there is a good month-by-month graph from 2007 through 2011. You have to scroll down some, but you can find it here:  Oil Boom Sparks River Fight.

Animated explanation of hydraulic fracturing

Curious how a fracking well is drilled?

I’ve been wondering about a few things.  Like how to drill horizontally, how to break open the dense rock, and how to prevent leakage.

Superb animated video from Voyager Oil & Gas answers a lot of my questions:

Continue reading “Animated explanation of hydraulic fracturing”

Graph of North Dakota oil production

After reading about oil production in North Dakota surpassing California here, I pulled some data from the U.S. Energy Information Administration here.  Created a couple of graphs.

Took the annual average daily production in North Dakota for 2000 through 2010. Added the average monthly production for 2011.  Came up with this graph. Continue reading “Graph of North Dakota oil production”

In December North Dakota passed California in oil production

And North Dakota pulls into third place!

Federal stats show oil production in North Dakota was 535k bbl/d in December compared to 531k bbl/d in California. – Five states accounted for about 56% of total U.S.crude oil production in 2011

Check out the graph of monthly production. North Dakota has been accelerating since 2008 while Alaska and California have been declining for 10 years.

Continue reading “In December North Dakota passed California in oil production”

U.S. energy independence on the horizon? Maybe soon.

An article from NPR, Is U.S. Energy Independence Finally Within Reach?, explains the impact of all the new drilling could be making theU.S. energy independent soon.

The article says:

Energy self-sufficiency is now in sight,” says energy economist Phil Verleger. He believes that within a decade, the U.S. will no longer need to import crude oil and will be a natural gas exporter

Continue reading “U.S. energy independence on the horizon? Maybe soon.”

Putting North Dakota oil production into perspective

Here are a few stats on energy production in North Dakota from Mark Perry’s post, North Dakota Sets More Oil Productions Records in November; Above 500k Daily Barrels for First Time:

I will rearrange his comments. All of the following are quotes:

Let’s look at oil production in North Dakota:

…doubled from 246,000 barrels per day two years ago

Continue reading “Putting North Dakota oil production into perspective”

Growing pains in North Dakota – signs of boom times from the oil in the Bakken field

Mark Perry relays some of the discussion of North Dakota Sheriffs & Deputies Association about the impact of the oil boom in Western North Dakota:  Bakken Oil is Having Major Impact on Western ND.

Professor Perry highlights 12 of the 35 issues discussed. Here are three amazing items: Continue reading “Growing pains in North Dakota – signs of boom times from the oil in the Bakken field”

Why my interest in the Bakken oil field is increasing

(Cross-post from my other blog, Nonprofit Update)

For quite a while now I’ve been fascinated by the rapid increase in oil production in the Bakken field in North Dakota.

Have had a lot of posts on my blog Outrun Change.  Under 1% unemployment in one county. Production graphs that are going vertical.  More oil produced in ND than California. That kind of stuff.

This month my interest level took off like those oil production charts.

Continue reading “Why my interest in the Bakken oil field is increasing”

More oil drilled in North Dakota than California? Run that by me again.

Did you ever think you would see this headline?

N.Dakota Oil Continues Exponential Growth and is on Pace to Become the No. 2 Oil State in January.  That is a post from Mark Perry pointing out the dramatic growth in oil production from North Dakota sites.

Check out the graph to see the drastic expansion the last four years.  In about 2008 oil production hit an inflection point.  Here’s the basic shape of the graph:  horizontal before 2008 and on roughly a 45° angle after that.

Continue reading “More oil drilled in North Dakota than California? Run that by me again.”